ECARX (NASDAQ:ECX) Releases Earnings Results, Misses Expectations By $0.02 EPS

ECARX (NASDAQ:ECX) issued its quarterly earnings results on Tuesday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02), FiscalAI reports. The company had revenue of $131.50 million for the quarter, compared to the consensus estimate of $204.66 million.

ECARX Price Performance

Shares of ECARX stock opened at $1.03 on Tuesday. The firm has a market cap of $367.16 million, a price-to-earnings ratio of -5.15 and a beta of 0.98. The company has a 50-day moving average of $1.12 and a 200 day moving average of $1.59. ECARX has a 1 year low of $0.88 and a 1 year high of $2.70.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ECX. Invesco Ltd. increased its position in shares of ECARX by 5.8% during the second quarter. Invesco Ltd. now owns 253,689 shares of the company’s stock valued at $520,000 after acquiring an additional 13,859 shares in the last quarter. Legal & General Group Plc increased its position in shares of ECARX by 1.4% during the third quarter. Legal & General Group Plc now owns 1,155,630 shares of the company’s stock valued at $2,317,000 after acquiring an additional 16,420 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in ECARX by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company’s stock valued at $94,000 after acquiring an additional 22,498 shares during the period. Integrated Wealth Concepts LLC bought a new position in ECARX during the 3rd quarter valued at about $51,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in ECARX during the 4th quarter valued at about $47,000.

Wall Street Analyst Weigh In

ECX has been the subject of several research reports. Zacks Research upgraded shares of ECARX from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ECARX in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

ECARX Company Profile

ECARX is a global automotive technology company focused on developing and delivering smart cockpit solutions for original equipment manufacturers (OEMs). The company designs and manufactures a range of in-vehicle computing platforms, central processing units, digital instrument clusters and multimedia infotainment systems. ECARX’s core offerings integrate software, hardware and cloud connectivity to create seamless user experiences for drivers and passengers.

The company’s product portfolio spans telematics control units, over-the-air update frameworks and next-generation human-machine interfaces (HMI).